Jefferies Financial Group Forecasts Strong Price Appreciation for Element Fleet Management (TSE:EFN) Stock

Element Fleet Management (TSE:EFN) had its price objective hoisted by investment analysts at Jefferies Financial Group from C$41.00 to C$42.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price would indicate a potential upside of 11.02% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Scotiabank increased their target price on Element Fleet Management from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Friday, October 24th. BMO Capital Markets increased their target price on Element Fleet Management from C$35.00 to C$40.00 and gave the company an “outperform” rating in a report on Friday, August 8th. National Bankshares raised their price objective on Element Fleet Management from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Royal Bank Of Canada raised their price objective on Element Fleet Management from C$43.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Raymond James Financial raised their price objective on Element Fleet Management from C$36.00 to C$40.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Element Fleet Management has an average rating of “Moderate Buy” and an average target price of C$41.88.

Element Fleet Management Stock Up 0.6%

EFN stock opened at C$37.83 on Thursday. Element Fleet Management has a fifty-two week low of C$25.00 and a fifty-two week high of C$38.26. The business’s 50-day moving average is C$36.85 and its two-hundred day moving average is C$34.74. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The company has a market cap of C$15.19 billion, a price-to-earnings ratio of 37.83, a P/E/G ratio of 2.97 and a beta of 0.49.

Insider Activity at Element Fleet Management

In related news, insider Heath Leslie Valkenburg acquired 813 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average price of C$36.90 per share, with a total value of C$29,999.70. Following the completion of the purchase, the insider directly owned 4,153 shares of the company’s stock, valued at C$153,245.70. This represents a 24.34% increase in their ownership of the stock. 0.26% of the stock is owned by company insiders.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.